Average Bank Operations Specialist Salary in Ghana for 2024

In this article, we will look at the average Bank Operations Specialist salary for 2024 in Ghana and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Ghanaian cedi. To keep things simple, we are using the GHS currency code instead of the currency symbol โ‚ต.

How Much Does a Bank Operations Specialist Make in Ghana?

A Bank Operations Specialist working in Ghana will typically earn around 74,560 GHS per year, and this can range from the lowest average salary of about 38,180 GHS to the highest average salary of 119,080 GHS.

Average Annual Salary
74,560 GHS
Average Monthly Salary
6,213 GHS

Lowest Annual Salary
38,180 GHS
Lowest Monthly Salary
3,181 GHS

Highest Annual Salary
119,080 GHS
Highest Monthly Salary
9,923 GHS

These are average salaries for a Bank Operations Specialist in Ghana and include benefits such as housing and transport. It's also possible for a Bank Operations Specialist to earn more or less than the average salaries shown above.

Bank Operations Specialist salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Bank Operations Specialist Salaries in Ghana

So we've looked at the average salaries a Bank Operations Specialist will earn in Ghana. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Bank Operations Specialist can earn between 38,180 GHS and 119,080 GHS on average in Ghana. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Bank Operations Specialist in Ghana is 79,260 GHS. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 79,260 GHS, and 50% of the population earn more than 79,260 GHS.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Bank Operations Specialist salary in Ghana, 25% of the population are earning less than 50,560 GHS while 75% of the population earn more than 50,560 GHS.

75% of the population earn less than 101,980 GHS, and 25% of the population earn more than 101,980 GHS.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Bank Operations Specialist Salary by Experience Level in Ghana

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average bank operations specialist salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Bank Operations Specialist in Ghana that has less than two years of experience can expect to earn somewhere in the region of 43,220 GHS.
  • 2 - 5 Years Experience. With two to five years of experience the average Bank Operations Specialist salary would increase to 60,180 GHS.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bank Operations Specialist, the average salary would be 77,860 GHS.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 98,000 GHS.
  • 15 - 20 Years Experience. A Bank Operations Specialist with 15 to 20 years of experience can earn an average of 102,620 GHS.
  • 20+ Years Experience. For a Bank Operations Specialist with more than 20 years, the expected average salary increases to 112,180 GHS.

Average Salary by Experience Chart

0-2 Years
43,220 GHS
2-5 Years +42%
60,180 GHS
5-10 Years +32%
77,860 GHS
10-15 Years +23%
98,000 GHS
15-20 Years +6%
102,620 GHS
20+ Years +10%
112,180 GHS

Bank Operations Specialist Salary by Education Level in Ghana

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Bank Operations Specialist in Ghana based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A Bank Operations Specialist in Ghana with a bachelor's degree education can earn an average salary of 66,680 GHS.

  • Master's Degree. A Bank Operations Specialist in Ghana with a master's degree education can earn an average salary of 95,420 GHS.

Average Salary by Education Chart

Bachelor's Degree
66,680 GHS
Master's Degree +43%
95,420 GHS

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Ghana is around 25,300 to 76,000 GHS and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Bank Operations Specialist Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Ghana, a male bank operations specialist will earn an average of 80,920 GHS, while a female bank operations specialist will earn around 73,760 GHS.

This means that a male bank operations specialist earns approximately 10% more than a female bank operations specialist for performing the same job.

Average Salary by Gender Chart in Ghana

Male
80,920 GHS
Female -10%
73,760 GHS

Bank Operations Specialist Average Pay Raise in Ghana

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Bank Operations Specialist in Ghana is around 12% every 18 months.

The national average pay raise across all professions and industries in Ghana is around 8% every 19 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 12 ÷ 18 ) × 12  = 8%

What this means is that a Bank Operations Specialist in Ghana can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in Ghana for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Ghana.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Bank Operations Specialist Bonus and Incentive Rates in Ghana

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Bank Operations Specialist is a moderate bonus based job, with 54% of employees reporting at least one bonus in the last 12 months.

46% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
54%
No Bonus
46%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Ghana earn approximately 8% more than private sector employees in the same role.

Public Sector
62,460 GHS
Private Sector -8%
57,620 GHS

Salaries for Jobs Similar to a Bank Operations Specialist

In the table below, we have salary information for jobs that are similar to a Bank Operations Specialist in Ghana.

Job Title Category Salary
AML Analyst Banking 92,240 GHS
Assistant Bank Branch Manager Banking 77,380 GHS
Assistant Bank Manager Banking 102,460 GHS
ATM Manager Banking 85,080 GHS
ATM Service Technician Banking 21,980 GHS
Bank Accounts Analyst Banking 36,160 GHS
Bank Accounts Collector Banking 21,400 GHS
Bank Accounts Controller Banking 46,160 GHS
Bank Accounts Executive Banking 66,260 GHS
Bank Accounts Manager Banking 77,620 GHS
Bank Auditing Manager Banking 80,920 GHS
Bank Branch Manager Banking 104,920 GHS
Bank Branch Operations Coordinator Banking 47,580 GHS
Bank Clerk Banking 19,480 GHS
Bank Client Service Associate Banking 27,480 GHS
Bank Collector Banking 21,020 GHS
Bank Compliance Specialist Banking 53,840 GHS
Bank Manager Banking 125,100 GHS
Bank Operational Risk Manager Banking 115,640 GHS
Bank Operations Head Banking 128,900 GHS
Bank Operations Officer Banking 50,660 GHS
Bank Process Manager Banking 65,080 GHS
Bank Product Manager Banking 80,540 GHS
Bank Programme Manager Banking 83,140 GHS
Bank Project Manager Banking 101,020 GHS
Bank Propositions Manager Banking 86,760 GHS
Bank Quantitative Analyst Banking 64,640 GHS
Bank Regional Manager Banking 128,900 GHS
Bank Regional Risk Officer Banking 66,180 GHS
Bank Relationship Manager Banking 93,340 GHS
Bank Relationship Officer Banking 43,520 GHS
Bank Teller Banking 23,400 GHS
Banker Banking 43,260 GHS
Banking Business Analyst Banking 66,580 GHS
Banking Business Development Officer Banking 40,640 GHS
Banking Business Planning Executive Banking 88,480 GHS
Banking Product Manager Banking 74,560 GHS
Banking Reference Data Manager Banking 67,120 GHS
Banking Risk Analyst Banking 65,760 GHS
Banking Technical Analyst Banking 35,560 GHS
Bankruptcy Coordinator Banking 45,580 GHS
Bill and Account Collector Banking 24,840 GHS
Budget Analyst Banking 62,060 GHS
Capital Risk Manager Banking 123,400 GHS
Cards Marketing Manager Banking 83,060 GHS
Cash Management Manager Banking 113,840 GHS
Check Processing Manager Banking 83,140 GHS
Commercial Vault Associate Banking 60,880 GHS
Corporate Banker Banking 45,260 GHS
Corporate Dealer Banking 66,180 GHS
Credit Analyst Banking 50,180 GHS
Credit and Collections Manager Banking 88,020 GHS
Credit Card Fraud Investigator Banking 66,260 GHS
Credit Portfolio Manager Banking 120,880 GHS
Credit Risk Analyst Banking 69,720 GHS
Credit Risk Associate Banking 73,040 GHS
Direct Bank Sales Representative Banking 46,400 GHS
Exchange Control Consultant Banking 63,400 GHS
Executive Account Analyst Banking 59,660 GHS
Financial Bank Planning Consultant Banking 86,520 GHS
Financial Banking Analysis Manager Banking 89,120 GHS
Financial Banking Assistant Banking 32,200 GHS
Financial Banking Systems Manager Banking 87,760 GHS
Foreign Exchange Manager Banking 94,800 GHS
Fraud Analyst Banking 66,680 GHS
Fraud Detection Associate Banking 43,800 GHS
Fraud Detection Manager Banking 94,400 GHS
Fraud Detection Supervisor Banking 52,300 GHS
Internal Bank Audit Manager Banking 119,700 GHS
Internal Bank Auditor Banking 62,460 GHS
Internal Private Banker Banking 45,620 GHS
International Banking Manager Banking 128,900 GHS
Investment Banking Analyst Banking 92,900 GHS
Loan Analyst Banking 64,560 GHS
Loan Area Manager Banking 78,120 GHS
Loan Audit Team Leader Banking 73,980 GHS
Loan Branch Manager Banking 74,540 GHS
Loan Business Development Officer Banking 36,720 GHS
Loan Clerk Banking 23,380 GHS
Loan Collection and Recovery Manager Banking 79,000 GHS
Loan Collection Manager Banking 75,040 GHS
Loan Collector Banking 21,560 GHS
Loan Examiner Banking 28,660 GHS
Loan Officer Banking 23,500 GHS
Loan Processing Manager Banking 66,120 GHS
Loan Processor Banking 29,540 GHS
Loan Quality Assurance Auditor Banking 66,120 GHS
Loan Quality Assurance Manager Banking 75,280 GHS
Loan Quality Assurance Representative Banking 49,700 GHS
Loan Review Manager Banking 72,420 GHS
Loan Team Leader Banking 64,040 GHS
Loans Manager Banking 90,980 GHS
Mortgage Advisor Banking 43,220 GHS
Mortgage Collection Manager Banking 77,120 GHS
Mortgage Collector Banking 19,980 GHS
Mortgage Credit Analyst Banking 35,300 GHS
Mortgage Credit Manager Banking 72,180 GHS
Mortgage Development Manager Banking 79,240 GHS
Mortgage Document Reviewer Banking 30,800 GHS
Mortgage Funding Manager Banking 84,880 GHS
Mortgage Operations Manager Banking 116,960 GHS
Mortgage Payment Processing Clerk Banking 25,680 GHS
Mortgage Processing Manager Banking 73,800 GHS
Mortgage Processor Banking 27,480 GHS
Mortgage Quality Assurance Auditor Banking 64,720 GHS
Mortgage Quality Assurance Manager Banking 73,040 GHS
Mortgage Servicing Clerk Banking 19,940 GHS
Mortgage Servicing Manager Banking 66,120 GHS
Mortgage Underwriter Banking 26,080 GHS
Online Banking Manager Banking 106,820 GHS
Payment Processing Clerk Banking 23,520 GHS
Personal Banker Banking 46,840 GHS
Personal Banking Advisor Banking 48,200 GHS
Phone Banker Banking 31,180 GHS
Private Banker Banking 47,720 GHS
Reconciliation and Investigation Specialist Banking 50,980 GHS
Tax Officer Banking 39,420 GHS
Teller Banking 19,980 GHS
Trade Officer Banking 26,780 GHS
Trade Product Manager Banking 77,400 GHS
Trader Banking 31,380 GHS
Treasury Operations Officer Banking 60,400 GHS

Salary Comparison by City

If you want to compare salaries with different cities in Ghana, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Accra 83,140 GHS
Kumasi 83,060 GHS

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